The Spanish and Portuguese real estate cycle will be much longer than the traditional 12-years and despite a generalised slowdown, Spanish property markets will keep on rising, predicts Ignacio de la Torre, Chief Economist at Spanish investment bank Arcano.
Posts Tagged: Spanish property
The Spanish property market is entering a different phase of recovery, where prices are still rising – albeit at a much slower pace, new figures show.
The recent downward trend in property prices was reversed during September with a modest year-on-year rise of 4.2%, new report shows. The latest figures show that this was the eight consecutive month of year-on-year rises below 5%, according to a report by leading property valuation firm Tinsa.
Existing variable rate mortgage loan holders will see a reduction in their monthly repayments. The Euribor – the rate in which most Spanish mortgage interest is calculated – has plummeted to new lows over the past couple of months, making variable rate mortgages even more appealing for home owners.
For years the Spanish housing market had been charactersied by rising house prices and increased demand for new properties. But the market is entering a more mature phase in its recovery and heading towards ‘normalization’ and ‘more sustainable growth rates’, says a report by Caixabank Research.